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May 17, 2013
05/13
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u know, maybe something about our times we could celebrate $682 billion deficit, i'm saying, i think weadock this bu we are forgetting about this, that worries me. >> i think w should celebrate a little bit to extent we had a record peacetime deficit 2009, over 25% of gdp through tremendous effort of public engaged on the spending issue like i've never seen before. it wl be around 22%. >> do you think our eye will be off the ball now? >> fortunately the big spending fight is not going to be in the summer, but it will be in the fall. theebt seatinget get -- ceiling will get rolled together, we have a big fight over this in september, i think that scandals may inform that debate in a productive way, they show there a lack theontrol wi that out of control big government, even david axelrod said it is too vast for white house to know what is going on. when the government is too vast for the white house to know what is going on i hope they down size it. neil: that worries me when anyone in the white house doesn't know whattis going on, that gets to be a theme of late. so, there is a sense
u know, maybe something about our times we could celebrate $682 billion deficit, i'm saying, i think weadock this bu we are forgetting about this, that worries me. >> i think w should celebrate a little bit to extent we had a record peacetime deficit 2009, over 25% of gdp through tremendous effort of public engaged on the spending issue like i've never seen before. it wl be around 22%. >> do you think our eye will be off the ball now? >> fortunately the big spending fight is...
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May 15, 2013
05/13
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the deficit is getting smaller. a lot smaller. the congressional budget office says it will be $400 million less than the trillion dollars deficit last year. it's down because of higher taxes. a 60 billion check to the government from fannie and freddie. there's a down side for those of us who want the government to get its finances in order, this takes the wind out of the sails of the spending, cutting movement. maybe the deficit news helped stocks, another record close for the dow, 19th this year and same story for the s&p 500, the 14th he record there this year. we're looking at a flat to slightly lower opening today, but that happened yesterday and we still went up 120 by the close. stay tuned. and suddenly, it seems that president obama's second term agenda is unravelling. and the mainstream media have turned on the administration. big government seriously questioned, my, have times have changed. in just ten days. here is the the all-government, all the time president speaking the at ohio state may the 5th. >> unfortunately,
the deficit is getting smaller. a lot smaller. the congressional budget office says it will be $400 million less than the trillion dollars deficit last year. it's down because of higher taxes. a 60 billion check to the government from fannie and freddie. there's a down side for those of us who want the government to get its finances in order, this takes the wind out of the sails of the spending, cutting movement. maybe the deficit news helped stocks, another record close for the dow, 19th this...
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May 19, 2013
05/13
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overall, the economy grew 2.5% in the first three months of the year, but the deficit is dropping. plunged 32% in the first half of the fiscal year. housing is improving. prices are rising in most areas. consumer confidence, we learned late this week, lm at a six-year high. stocks, i don't have to tell you. most of the people in washington have a 401(k), so they're very well aware what is happening in the stock market. here is my question, ron, i want ron to answer this. here you've got republicans who can be focusing on other things and not the things going in the president's direction. >> right, you know, absolutely. it gives them an opportunity to kind of take the political offensive, and as i said, to mobilize their base. but there is an opportunity. there is a desire on the public to see things get done, particularly on the deficit, the debt, economic growth. those kind of issues. to the extent they're seeing us focus solely on this, there is cost. and politically, you know, your numbers, it's kind of a fascinating subcurrent which is that the grubs at the core of this new oba
overall, the economy grew 2.5% in the first three months of the year, but the deficit is dropping. plunged 32% in the first half of the fiscal year. housing is improving. prices are rising in most areas. consumer confidence, we learned late this week, lm at a six-year high. stocks, i don't have to tell you. most of the people in washington have a 401(k), so they're very well aware what is happening in the stock market. here is my question, ron, i want ron to answer this. here you've got...
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May 15, 2013
05/13
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here is one thing, the deficit is shrinking. you sit around with green eye shades all the time talking about how we need to cut stuff. yeah, we do. but when the economy grows, which it's doing, guess what happens? the deficit shrinks. >> neil: but that doesn't -- >> i agree. but i'm telling you -- >> neil: this what makes -- >> our number one issue should not be green eye shades of cut this, tea party, let's not have anything. let's not spend money on anything. >> neil: our number one issue is -- >> get people work. >> neil: absolutely. but police the money coming in and make sure more money doesn't go out. >> i agree with that. but first and foremost, people got to go to work. when people go to work, th pay taxes and the deficit goes down. >> neil: any given day, you're like patty hearst. >> i'm a riddle. >> neil: exactly. he's great. he's my buddy. meanwhile, is holder a liar? douglas brinkly says it doesn't matter. he should just go and maybe eric holder is just the starter. because one of the world's most respected historian
here is one thing, the deficit is shrinking. you sit around with green eye shades all the time talking about how we need to cut stuff. yeah, we do. but when the economy grows, which it's doing, guess what happens? the deficit shrinks. >> neil: but that doesn't -- >> i agree. but i'm telling you -- >> neil: this what makes -- >> our number one issue should not be green eye shades of cut this, tea party, let's not have anything. let's not spend money on anything. >>...
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May 17, 2013
05/13
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paying down our deficit. it is kicking the can down the road and frankly, we are out of road. >> you would think that those people would all be pushing to take credit for our incredible deficit reduction celebrating that there would be press conferences. but no, there was nothing. what makes that nothing this week so very ironic is that not only did republicans essentially ignore the cbo report but they chose to spend the time they should have been out celebrating our lowest predicted deficits since 2008 trying once again to repeal obama care. they voted for the 37th time to repeal obama care despite the fact that there is good reason to believe that obama care is to credit for much of the remarkable deficit reduction projected this week by the cbo. the deficit reduction republicans used to hold up as their entire reason for being. because the biggest driver of our long term deficits is rising health care costs and -- get this -- between 2009 and 2011, total health spending grew at the lowest annual pace in t
paying down our deficit. it is kicking the can down the road and frankly, we are out of road. >> you would think that those people would all be pushing to take credit for our incredible deficit reduction celebrating that there would be press conferences. but no, there was nothing. what makes that nothing this week so very ironic is that not only did republicans essentially ignore the cbo report but they chose to spend the time they should have been out celebrating our lowest predicted...
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May 14, 2013
05/13
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he inherited a city with $300,000 budget deficit. the state's appointed emergency financial manager warned that the deficit could $386 million by jewel 1st. >>> in new jersey the role other coaster at seaside heights is being demolished. it was a symbol of the pamage that superstorm sandy inflicted on the east coast. those are your headlines. i'm patti ann browne. back to you. ashley: patti ann, we thank you so much. get back to the markets. call it a case of the tuesdays. the dow less than two hours from extending the win he can street of 18 straight tuesday as the market is on track to finish in record territory yet again. joining me, above pavlick, from banyon partners with his take what he is watching to drive the market higher. bob, thank you so much for joining us. so you say, look there's lots more room to the upside. i don't say that you say a lot of room but there is room to the upside. what is driving the markets right now? we've gone through earnings. the economic date at thaa is so so. by all economic accounts we're drift
he inherited a city with $300,000 budget deficit. the state's appointed emergency financial manager warned that the deficit could $386 million by jewel 1st. >>> in new jersey the role other coaster at seaside heights is being demolished. it was a symbol of the pamage that superstorm sandy inflicted on the east coast. those are your headlines. i'm patti ann browne. back to you. ashley: patti ann, we thank you so much. get back to the markets. call it a case of the tuesdays. the dow less...
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May 15, 2013
05/13
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we were hoping to work more on the deficit. do you think this will diverge us from getting things like that done in washington? >> i am not so sure that the market will take that as bad news. the less they do inside the beltway seems to be the better. that is seen as bad news. the more gridlock, the better in many peoples minds. dennis: we have justice with the ap, the irs going after tea party groups, if we have a third-party to come up that is overreaching like that, it gets far worse. >> i will give you one. it is still another one. if i can quickly push back a little on what david said, i agree. i would also say be careful what you wish for. the specter of a three year lame-duck president does not look that great internationally. i do worry about that angle. >> i am not too worried about what is happening internationally. i think they will basically be just slightly by over the next couple years. it is the economy here that i am worried about. with gridlock, look at what we have been able to get done. the president realizes
we were hoping to work more on the deficit. do you think this will diverge us from getting things like that done in washington? >> i am not so sure that the market will take that as bad news. the less they do inside the beltway seems to be the better. that is seen as bad news. the more gridlock, the better in many peoples minds. dennis: we have justice with the ap, the irs going after tea party groups, if we have a third-party to come up that is overreaching like that, it gets far worse....
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May 19, 2013
05/13
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and the amazing shrinking american budget deficit. i'll ask mitt romney's chief economic adviser whether he thinks the problem has gone away. >>> also, as america prepares to draw down from afghanistan, what can it learn from britain's withdrawal 170 years ago? i'll ask theauthor of a great new book. >>> next, a look into the crystal ball of technology with google's executive chairman eric schmit. a sure fire plan to reduce carbon dioxide emissions. how so? stay tuned. >>> first, here is my take. conservatives are, of course, mad at barack obama. we'll talk about the various scandals in a moment, but they're also mad at a country that isn't mad enough at him. this frustration is now taking over main stream and intelligent voices within the conservative movement and about broader issues than benghazi. brett stevens, the columnist for "wall street journal" lementes that president obama is not paying a price for a foreign policy that he, stevens, describes as isolationist. now, isolationism will come as a surprise to the diplomat soldier
and the amazing shrinking american budget deficit. i'll ask mitt romney's chief economic adviser whether he thinks the problem has gone away. >>> also, as america prepares to draw down from afghanistan, what can it learn from britain's withdrawal 170 years ago? i'll ask theauthor of a great new book. >>> next, a look into the crystal ball of technology with google's executive chairman eric schmit. a sure fire plan to reduce carbon dioxide emissions. how so? stay tuned....
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May 15, 2013
05/13
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that is the deficit problem. without entitlement reform there is no amount of growth that will fix it. melissa: christian, isn't this all noise and nonsense until we fix that problem? >> well, not exactly because, you know, when you have an economy that's suffering from high unemployment andd3 stagnating wages you're not at your full productive capacity. once you reach that level as we've seen in the last few months, once you increase revenues whether it comes from tax increases or improved economic conditions, you drastically and very quickly lower your debt position and your deficit position. that should be the first order of business. that is really what we do first before we figure out what is our true remaining structural long-term deficit. melissa: okay, but doug, you're a numbers guy. let's do thisatively, rather than with our emotions. can the economy quantitatively grow enough to deal with paying for our promises for the entitlements and the system that we have laid out? >> no. at the heart of this are p
that is the deficit problem. without entitlement reform there is no amount of growth that will fix it. melissa: christian, isn't this all noise and nonsense until we fix that problem? >> well, not exactly because, you know, when you have an economy that's suffering from high unemployment andd3 stagnating wages you're not at your full productive capacity. once you reach that level as we've seen in the last few months, once you increase revenues whether it comes from tax increases or...
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May 13, 2013
05/13
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the deficit matters. if you have over 200% debt to gd ratio you have finance it domesticly. if you have foreigners buying your currency it matters. prirnt money like crazy, this can not have a good ending. cyprus when that blew up it was, a big deal. but japan is of course much bigger deal. we've always argue we never had a eurozone crisis. that is good news. bad news we have a global crisis that might focus on the japan or the u.k.. lori: what should that basket of currencies look like for the best investment? >> there is no safe haven as i indicated. you have to spread your eggs. one the cure return sis more than many others do is the euro priest sigh list because everybody else hates it. they're mopping up liquidity where everyone else is printing money. they have a lot of pain. the reason they have pain is they're not print enough money. i'm not saying buy equities but the currency can be stronger. ultimately you have to have a basket. can't put money one egg, be it australian dollar or the looun any or whatever it may be. lori: axel merk. thanks for coming in. melissa:
the deficit matters. if you have over 200% debt to gd ratio you have finance it domesticly. if you have foreigners buying your currency it matters. prirnt money like crazy, this can not have a good ending. cyprus when that blew up it was, a big deal. but japan is of course much bigger deal. we've always argue we never had a eurozone crisis. that is good news. bad news we have a global crisis that might focus on the japan or the u.k.. lori: what should that basket of currencies look like for the...
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May 16, 2013
05/13
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neil: deficits are tumbling the revenues are coming in. >> then the next thing you know the wags, you know --. neil: we don't have to cut. we don't have to cut. >> cbo says problem solved. this is what some blogger on "the washington post" said today believe the cbo forecast i have some swampland in florida. they suggest 40 years no recession or no economic dislocation we will create seven times more jobs in the next decade than we did over the next decade with wage and salary growth two times what has been. >> that $642 billion it is a lot less than it was in well under $1 trillion and we can remember a time when deficits were approaching $100 billion now we celebrate 642 billion but whatever that is. >> of course, $50 billion is a pavement a tax gimmick from fannie mae. where do they get the 60 million? they borrow it. neil: a lot of it is a tax increase. that part is there temporarily because with the fiscal cliff came at the end of the year there was a huge pre-emptive realization and bonuses were paid and 100 billion as one time revenue. neil: so you say with a focus on the lates
neil: deficits are tumbling the revenues are coming in. >> then the next thing you know the wags, you know --. neil: we don't have to cut. we don't have to cut. >> cbo says problem solved. this is what some blogger on "the washington post" said today believe the cbo forecast i have some swampland in florida. they suggest 40 years no recession or no economic dislocation we will create seven times more jobs in the next decade than we did over the next decade with wage and...
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May 19, 2013
05/13
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insteadf what you are concluding your reported it would reduce the deficit by $2.5 trillion? >> i sent six months months on this report. the methology is about 30 pages long. any person can look at my detail of my analysis. mr. egan has a press release of study he might do. it's very difficult to assess what he is talking about because it's so hidden and minimal. one thing i can say about that is his study basically concludes that an immigrant with an ph.d. and one with a fourth grade education has an equal effect of reducinghe deficit in government. that is not only wrong but it's stupid. the reality that a high skilled immigrant, one with a college education pays aut $30,000 more in taxes thanhey take in benefits. a low educated immigrant one with high school degree or less does exactly thepposite. though will take about $30,000 more in benefits than they pay in taxes. the essence of this bill is saying that it's going to take 11.5 million illegal immigrants that on average education of tenth grade and giving them access to 80 different welre programs, obamacare which is go
insteadf what you are concluding your reported it would reduce the deficit by $2.5 trillion? >> i sent six months months on this report. the methology is about 30 pages long. any person can look at my detail of my analysis. mr. egan has a press release of study he might do. it's very difficult to assess what he is talking about because it's so hidden and minimal. one thing i can say about that is his study basically concludes that an immigrant with an ph.d. and one with a fourth grade...
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May 16, 2013
05/13
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the smallest deficit sense 2008 which is five years ago. the deficit had been topping $1 trillion every year cynic the recession ended four years ago. they credit the economic recovery, new tax rules and spending cuts with shrinking the deficit. we'll be right back. >>> welcome back to "hardball." may seem hard to believe that you're not experiencing deja vu here, but it happened again now, a military serviceman whose job it is to protect against sexual assault has excused himself of sexual assault. latest case involves a ft. hood sergeant. you won't believe this, i couldn't believe it, into prostitution and for sexually assaulting this guy did apparently charged with two others. the army's not releasing his identity as he has not been charged officially, but get a load of his job title, sexual harassment response and coordinator. that's right, the guy you're supposed to go to for help is accused of sexually assaulting someone. this comes just one week after the man in charge of sexual assault from the entire air force was charged with sexu
the smallest deficit sense 2008 which is five years ago. the deficit had been topping $1 trillion every year cynic the recession ended four years ago. they credit the economic recovery, new tax rules and spending cuts with shrinking the deficit. we'll be right back. >>> welcome back to "hardball." may seem hard to believe that you're not experiencing deja vu here, but it happened again now, a military serviceman whose job it is to protect against sexual assault has excused...
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May 14, 2013
05/13
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we seemed that we were getting and budget deficits, oh, my god everyone can relax, get the economy go. then we have that wet blanket all over. depending how deep and ugly it -ets it will abfe affect the consumer. making a decision. and it could have a negative effect. neil: malia, i think every time you have a potential of a scandal. economic backdrop has a lot to say whether the scandals do that president in. i think. bill clinton of saved in large part becauseethe economy everything doing so well. this predent mig be saved. by comparison it is doing bter than it was. richard nixon was not so fortunate. >> i think you bring up a good point with looking at nixon and lousy economy. that probabl had a lot to do with the lousy economy. i don't think that scandal in washington affects our markets that much, if it did, i am sure we would not be as well off as we are, scandals in washington have been happening since washington, it is important we remember that what creates strong economies are jobs and government working with citizens to build its economy. >> what if people question that go
we seemed that we were getting and budget deficits, oh, my god everyone can relax, get the economy go. then we have that wet blanket all over. depending how deep and ugly it -ets it will abfe affect the consumer. making a decision. and it could have a negative effect. neil: malia, i think every time you have a potential of a scandal. economic backdrop has a lot to say whether the scandals do that president in. i think. bill clinton of saved in large part becauseethe economy everything doing so...
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May 15, 2013
05/13
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the true issue with deficits. when you pad the course with too much weight it doesn't make the trip as efficiently. and i do understand everybody wants to ring the bell on smaller deficits. i'm in the club as well. we need to be be honest about it. obviously that's the main motivation. but there's another. we cosigned for all the losses. just hope it doesn't mean no reform. we need a free market in housing that isn't the government. nothing talks about free markets better than a really old book. wealth of nations 1776. hey, that was a really good year by the way. adam smith. what is the underlying premise of adam smith we can apply in ample helpings to a variety of issues in the day? that is who should best deal with the procurement? whether it's a natural resource like natural gas or whether the government should decide who gets loans or what what type of loans. no, no, no. it should be free market for free men. and as the wealth of nations pointed out. don't worry about natural gas. the government can't decide w
the true issue with deficits. when you pad the course with too much weight it doesn't make the trip as efficiently. and i do understand everybody wants to ring the bell on smaller deficits. i'm in the club as well. we need to be be honest about it. obviously that's the main motivation. but there's another. we cosigned for all the losses. just hope it doesn't mean no reform. we need a free market in housing that isn't the government. nothing talks about free markets better than a really old...
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May 16, 2013
05/13
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well it was a string of republican and democratic decisions to not hit the full number on security deficits. this is outrageous and senator menendez says we know about benghazi? somebody will puke out there outrageous conduct. [laughter] >> no vomit here in washington d.c. tonight studio number four. lou: maybe you are tougher. >> we have been marinating longer but to your point* the president today was so careful with the artfully crafted all of his theaters were artfully crafted and careful not to blame funding for the attackkin benghazi but mentioning funding a rounded to create the inference. boxer was less careful and when you ask about the ira'she ? he did not answer the question so he was very legalistic. lou: this is moving from a crisis of confidence, it seems to me, directly to a constitutional crisis. this president has lost his credibility. it has been shredded. where are we headed? >> but his ability is to get things done and there is no appetite in washington to get anything done with scandal swirling around the president so beleaguered not he is labor it they and lame in the
well it was a string of republican and democratic decisions to not hit the full number on security deficits. this is outrageous and senator menendez says we know about benghazi? somebody will puke out there outrageous conduct. [laughter] >> no vomit here in washington d.c. tonight studio number four. lou: maybe you are tougher. >> we have been marinating longer but to your point* the president today was so careful with the artfully crafted all of his theaters were artfully crafted...
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May 14, 2013
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austerity cut the public role, that does nothing except hurt the deficit. if you want to reduce the deficit, the best thing you can do is invest in education. the education of american people brings more money to the treasury than anything you name, whether it's early childhood k-12, higher ed, lifetime learning, and to cut education is to increase the deficit. so thank you for posing that question. >> congresswoman, really great pleasure to have you here. thank you so much. >> thank you very much. my pleasure, good luck to you and congratulations. >> thanks again to democratic house leader nancy pelosi for joining me earlier today. that's all in for this evening the rachel maddow show starts now.
austerity cut the public role, that does nothing except hurt the deficit. if you want to reduce the deficit, the best thing you can do is invest in education. the education of american people brings more money to the treasury than anything you name, whether it's early childhood k-12, higher ed, lifetime learning, and to cut education is to increase the deficit. so thank you for posing that question. >> congresswoman, really great pleasure to have you here. thank you so much. >>...
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May 15, 2013
05/13
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the history of deficit is they tend to understate it. if you forecast it up three, up three, up three, then if you jack your forecast down to minus one then you look like a total goon. what the cbo will say is up three, up three, up three, they tend to understate their revisions, what we saw yesterday was probably about half of the revision that they really would've made if they went all in and did the fully rational forecast. probably throughout the rest of the year, you're going to see bigger reductions in the deficits about three months from now. and that's going to have a good effect on markets, it's going to help the fed have some space to ease up on quantitative easing and so on. >> do you share robert's concerns about the impact of the sequester and second half of the year? >> no, i do not. we're losing about 1.5% of gdp growth. about 1% is the tax hike at the end of the year and half of that is the sequester. so far, we've overpowered that with the wealth effect and the absence of the hippopotamus, and i think that'll continue. >
the history of deficit is they tend to understate it. if you forecast it up three, up three, up three, then if you jack your forecast down to minus one then you look like a total goon. what the cbo will say is up three, up three, up three, they tend to understate their revisions, what we saw yesterday was probably about half of the revision that they really would've made if they went all in and did the fully rational forecast. probably throughout the rest of the year, you're going to see bigger...
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May 16, 2013
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the board of education approved the deficit elimination plan, and really, chris, i want to thank you and other folks who brought attention to this. it was putting a great big light on this problem that, i think, caused the reverse, of course. and the good news is these kids will be able to finish their school year, and i'm just really happy about that. >> what have we learned about michigan governor rick snyder in this, the fact he seemed willing, the state government seemed willing, to let these kids not be in school and not turn over any money and not find some way initially for a bridge loan or something. what does that say to you about the governor? >> first of all, i want to thank them for doing the right thing, even though it took some time. i'm not really anxious to point fingers. i think what it does show is we have huge inequities in this country and in michigan and lots of other places, and we need to correct those inequities. for every buena vista that had to close, there are hundreds of schools that are functioning barely at the sustainable level and getting marginal educ
the board of education approved the deficit elimination plan, and really, chris, i want to thank you and other folks who brought attention to this. it was putting a great big light on this problem that, i think, caused the reverse, of course. and the good news is these kids will be able to finish their school year, and i'm just really happy about that. >> what have we learned about michigan governor rick snyder in this, the fact he seemed willing, the state government seemed willing, to...
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May 14, 2013
05/13
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now we only have a deficit less than 100 the next six months. the net issuance versus refunding is a little over 100. that means we have 400 billion, 400 billion that has to be made up. so basically think about this. that's being taken out of the market, out of the bond market. 400 billion is now in your hands, my hands and other folks's hands. and there's a few choices. it either has to go in the economy, which, you know it probably will go somewhat in the economy. it has to go to the short end of the curve trade better. we have this excess. or it has to make stocks trade higher. now, the problem is you might be worried some of that might go into the economy and, you know it might stimulate with a little bit of surge. basically, afterwards, we also have to cut back because the deficits in the future will be less than this trillion dollars. so if we don't taper back we will get into this hyper drive market. it's backwards. the fed has to taper back. because if you look at the numbers, it's so tremendous, these numbers are so tremendous that you
now we only have a deficit less than 100 the next six months. the net issuance versus refunding is a little over 100. that means we have 400 billion, 400 billion that has to be made up. so basically think about this. that's being taken out of the market, out of the bond market. 400 billion is now in your hands, my hands and other folks's hands. and there's a few choices. it either has to go in the economy, which, you know it probably will go somewhat in the economy. it has to go to the short...
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May 18, 2013
05/13
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it's not like snap is a worthy sacrifice on the deficit reduction. your cuts will do little to solve the nation's long-term fiscal challenges. spending on the program is expected to decrease according to the congressional budget office's projections. the dramatic increase between '07 and 2011 st an indication that the program is responding to americans who were struggling to feed their families during the recession and slow recovery. more people are using snap because more people are facing povrsy and hunger. so how about you and clour yeegs focus on that. as the number of americans in need of help declines, so, too will the number in need of snap. snap has been one of the few reliable lifelines in our weak social safety net. it lifted 4.7 million families out of poverty in 2011. here's my proposal, congressman lucas. no member of the u.s. congress should be allowed to introduce a bill reducing snap benefits until you have personally taken the food stamp challenge. that means eating on a budget of about $1 per person, per meal. if you and all your co
it's not like snap is a worthy sacrifice on the deficit reduction. your cuts will do little to solve the nation's long-term fiscal challenges. spending on the program is expected to decrease according to the congressional budget office's projections. the dramatic increase between '07 and 2011 st an indication that the program is responding to americans who were struggling to feed their families during the recession and slow recovery. more people are using snap because more people are facing...
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May 20, 2013
05/13
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because doing that will worsen the deficit and debt problem. how do you get more money into the economy without increasing the debt? this is a mechanism that allows you to do that. >> explain mechanism. >> congress has a qe policy where they print money. they use it to buy bonds from banksment the only way it can get into the economy if banks lend it. borrowers are not able to borrow because of stricter lending standards. so it has a link. we all agree on that. so how do you get money into the economy directly? bypass the credit channel. you have to get the money directly into the economy. the most direct way of doing that is basically to fund it and allow the treasury to disburse it. you would say that's ridiculous. you're giving congress free money? the idea is they would come up with good initiatives, tax cuts or productive investments. >> but i think that's a big either/or. fisher's point was he would like to see congress do things. not necessarily spend more, though. what he would like to see, if you can change the tax policy, great. >> we
because doing that will worsen the deficit and debt problem. how do you get more money into the economy without increasing the debt? this is a mechanism that allows you to do that. >> explain mechanism. >> congress has a qe policy where they print money. they use it to buy bonds from banksment the only way it can get into the economy if banks lend it. borrowers are not able to borrow because of stricter lending standards. so it has a link. we all agree on that. so how do you get...
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May 17, 2013
05/13
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FBC
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eye 86
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that will put all economic policies of the making into the fall, right now it looks with a positive deficit news they won't hit the debt limit until the end of the year so there is no reason to act between now and then and they won't, they will just have one hearing after another and the ap scandal and all the other things going on. cheryl: a crucial story but the focus is not on the economy. that will -- look at the markets. 15,305 with our session high, a new record for the market, all the attention is focused on washington. >> that shows where the market folks are focused and where other people are focused. these are moments liff is more interesting. the ap, bloomberg not getting all the headlines, the primary reason is the fed continues to provide the stimulus necessary to do it, keeping rates low, companies doing more with less, the reeovery is slower, but improvements in jobs and housing market continues forward. that allowed consumers sentiment to have the best number in six years of the economy continues to do good things despite these headlines, and highlights how the fed is a driv
that will put all economic policies of the making into the fall, right now it looks with a positive deficit news they won't hit the debt limit until the end of the year so there is no reason to act between now and then and they won't, they will just have one hearing after another and the ap scandal and all the other things going on. cheryl: a crucial story but the focus is not on the economy. that will -- look at the markets. 15,305 with our session high, a new record for the market, all the...
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May 20, 2013
05/13
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FBC
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our deficit is dropping. it is dropping to a very manageable level. again, that is a really manageable good level. connell: you are ready to argue that point. >> by 2017, the deficits will start going up again. they often say that there is no balance in this budget. the president has said again and again that spending cuts will equal out to tax hikes. the president that he will only raise taxes by 580 billion. the cbo says this budget raises them by $1.1 trillion. connell: we should pat ourselves on the back to even have the focus to have this conversation. we cannot get beyond, not only the scandal of the day, but the scandals of the day. i know we did one segment on it today, but they have been few and far between. >> there is no question. this has been a terrible week for the white house. we have really good economic news in a lot of ways. we are actually ssending less on obamacare than we originally thought. there is lots of good news and it. >> i do not think $59 billion is a big success story to talk about. when the president goes out there and
our deficit is dropping. it is dropping to a very manageable level. again, that is a really manageable good level. connell: you are ready to argue that point. >> by 2017, the deficits will start going up again. they often say that there is no balance in this budget. the president has said again and again that spending cuts will equal out to tax hikes. the president that he will only raise taxes by 580 billion. the cbo says this budget raises them by $1.1 trillion. connell: we should pat...
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May 18, 2013
05/13
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CNNW
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eye 67
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i think the chance of another down grade is remote because of the spectacular progress on the deficit. here is the interesting angle to me. it is not that obama's agenda is in at that time in tatteres is, it was months ago. i think what may has been, the things he doesn't want may get shoved down his throat, keystone pipeline and maybe another sequester n november he may have to accept sequester for 2014. >> slowly healing jobs market and plunging deficit mean there is a lot of other things, scandal things talking about in washington. if we were talking about those things, i can assure you democrats would be talking about the other two. thanks, guys. >> coming up. u 8 >>> partisanship and the inability of our elected leaders to put our prosperity ahead of politics paralyzed washington and that paralysis brought us debt debacles, sequesters, fiscal cliffs and it has gotten so bad olympia snow decided last year she could serve no more. she has a new book fighting for common ground, a memoir of her career. when i sat down with her i asked her point-blank what is wrong with these people i
i think the chance of another down grade is remote because of the spectacular progress on the deficit. here is the interesting angle to me. it is not that obama's agenda is in at that time in tatteres is, it was months ago. i think what may has been, the things he doesn't want may get shoved down his throat, keystone pipeline and maybe another sequester n november he may have to accept sequester for 2014. >> slowly healing jobs market and plunging deficit mean there is a lot of other...
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May 14, 2013
05/13
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FOXNEWSW
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eye 99
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immigration reform, budget deficit deal, another attempt at gun control. up in of that has been talk about since last week and all but a handful of questions today were about the app and the irs subjecting tea party groups to scrutiny. the president says if the irs officials acted inappropriately, they should be held ant credible. and on the phone records, he says mr. bober bober believes reporters should have unfettered access even as the government protects its secrets. >> believe it's possible to strike that balance and at the same time subpoena the phone records? >> i can't comment on the specific reports you cite. i can say the president does believe that the balance should be sought and can be found but it is a balance and, therefore, something that we need to constantly work at. >> the obama administration has launched six prosecutions for leaking classified information, which is more than all previous presidents come bind, shepard. >> shepard: on benghazi some observed that jay carney seems to not believe any of the questions about that are still l
immigration reform, budget deficit deal, another attempt at gun control. up in of that has been talk about since last week and all but a handful of questions today were about the app and the irs subjecting tea party groups to scrutiny. the president says if the irs officials acted inappropriately, they should be held ant credible. and on the phone records, he says mr. bober bober believes reporters should have unfettered access even as the government protects its secrets. >> believe it's...
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71
May 15, 2013
05/13
by
FBC
tv
eye 71
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budget deficit? i am serious the deficit dramatically lower. next. we're not in london, are ? apparently my debit card is. what? i know. don't worry, we have cancelled your old card. great. thank you. in addition to us monitoring your account or unusual activity, you could alsoet up free account alerts. okay. [ female announcer ] atells fargo we're working rounthe clock to help protect your money and financial informaon. here your temporary card. welcome back. how was london? [ female announcer ] when people talk, great things happen. ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and withhat: you're history. instead of looking behind... delta is looking beyond. 80housand of us investing billions. in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. >> the federal budget is a visit expected to shrink this fiscal year after four years of deficit of $1 trillion of ex
budget deficit? i am serious the deficit dramatically lower. next. we're not in london, are ? apparently my debit card is. what? i know. don't worry, we have cancelled your old card. great. thank you. in addition to us monitoring your account or unusual activity, you could alsoet up free account alerts. okay. [ female announcer ] atells fargo we're working rounthe clock to help protect your money and financial informaon. here your temporary card. welcome back. how was london? [ female announcer...
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May 16, 2013
05/13
by
FBC
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eye 84
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i am serious the deficit dramatically lower. next. mowing your lawn isn't alwaysasy. but maybe the problem isn't your lawn. introducing the all-wheel-drive mower from husqvar. we engineered its unique drive system and dual transmission to handle hills& thick grass& and tough terrain& without losing traction or power the all-wheel-drive mower from husqvarna. challenge e impossible. visit us online to enter the challenge the impossible protion ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we'rnot simply saluting history. we're making i are yostill sleeping? just wanted to check and make sure that we were on schedule. the first technology of its kind... mom and dad, i have great news. is now providing answers families need. siemens. answers. woman: what do you mean, meowners insurance doesn't cover floods? [ hear
i am serious the deficit dramatically lower. next. mowing your lawn isn't alwaysasy. but maybe the problem isn't your lawn. introducing the all-wheel-drive mower from husqvar. we engineered its unique drive system and dual transmission to handle hills& thick grass& and tough terrain& without losing traction or power the all-wheel-drive mower from husqvarna. challenge e impossible. visit us online to enter the challenge the impossible protion ...amelia... neil and buzz: for teaching...
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50
May 18, 2013
05/13
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MSNBC
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we reduce the deficits. >> spending is out of control. >> the tremendous deficits. >> debts out of control. it is kicking the can down the road an frankly we're out of road. >> really? the best part of this story is how progressive policies took the air out of the deficit. that's been going since george w. bush took office. now republican cuts from sequestration and the fiscal cliff deal did not reduce the deficit. they weren't even part of the calculations. here's what did help slink the deficits. tax heights on the wealthy americans an obama care. joining us with the rapid response are my guests. great to have you all with us. mike, why aren't the republicans talking about the deficit anymore? >> well it's bad news. look this is terrible news, ed. the only way to analyze the deficit to look at the ratio. u's called the gdp to debt ratio. obama came in with the 10% to debt to gdp ratio. he has it down to 4%. they sate's going to down to 2%. those are not great talking points for republicans. >> david does the massive deficit debt reduction hurt job growth. >> we would be much better off i
we reduce the deficits. >> spending is out of control. >> the tremendous deficits. >> debts out of control. it is kicking the can down the road an frankly we're out of road. >> really? the best part of this story is how progressive policies took the air out of the deficit. that's been going since george w. bush took office. now republican cuts from sequestration and the fiscal cliff deal did not reduce the deficit. they weren't even part of the calculations. here's what...
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May 20, 2013
05/13
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FOXNEWSW
tv
eye 256
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four dead at 7/11 store there four more dead as they tried to get into a freeze tore escape this storm deficit all around. reminiscent of joplin, missouri. bark ripped off the trees. trees split in half. its insulation up in the branches. it is twisted metal around telephone poles. at the 7/11 it' as to be a gas pump but it's nothing but electronics and wires hanging out. the pump stilted sideways it gives you chills. is it doesn't matter last when i was on the ground covering deadly tornadoes and last night covering these and now it doesn't matter how many times you see this. it's just absolutely gives you the shivers and to sit here right now. first responders from all over flooding in here. yelling at each other. shep then excuse me for just a moment. live witness from k next thing you know coming across. bricks hear if coming in. it was trying to stuck the storm seller out of the ground unlastled latch the door. caved the door. in once if ended he we of course got out. i car is gone. i can't find it inspects nowhere to be found and there is an sin angel of brandon brought me home. when i g
four dead at 7/11 store there four more dead as they tried to get into a freeze tore escape this storm deficit all around. reminiscent of joplin, missouri. bark ripped off the trees. trees split in half. its insulation up in the branches. it is twisted metal around telephone poles. at the 7/11 it' as to be a gas pump but it's nothing but electronics and wires hanging out. the pump stilted sideways it gives you chills. is it doesn't matter last when i was on the ground covering deadly tornadoes...
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that our budget deficit is nowhere near as big or as dangerous to america as our trade deficit for decades our trade deficit has been just under a trillion dollars a year just this year as of march the u.s. trade deficit was thirty eight point eight billion dollars because we're not protecting our economy and other countries are with both tariffs and that taxes that they then reverse on export it's nearly impossible to find and buy american made goods in u.s. stores it's been two hundred plus years since george washington way to find american made suit for his inauguration and alexander hamilton told us how to become economically strong nation it worked and we led the world for nearly two centuries but in the thirty three years since reagan took power we've gone from a new factory in being over a third of our economy to it being about a tenth putting our nation back into the bondage we were once in to the british east india company we need to revisit alexander hamilton plan that made america into the most powerful manufacturing economy in the world for over two hundred years it's time to r
that our budget deficit is nowhere near as big or as dangerous to america as our trade deficit for decades our trade deficit has been just under a trillion dollars a year just this year as of march the u.s. trade deficit was thirty eight point eight billion dollars because we're not protecting our economy and other countries are with both tariffs and that taxes that they then reverse on export it's nearly impossible to find and buy american made goods in u.s. stores it's been two hundred plus...
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May 16, 2013
05/13
by
CURRENT
tv
eye 94
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deficit hogs. after so many complaints that president obama is leading us down this dark well of never ending debt, a well that george w. push dug, the debt is stranging faster than anybody expected. the shortfall projection is 25% lower than they said it will be a few months ago and it's supposed to keep on dropping. by 2015 the deficit should total 2% over the total gross domestic product. and when president bush held office it was just over 10%. it deflates under democrats. grew under bush, dropped under clinton, grew under bush. how weather is the reaction to this? john boehner said nothing. and others say it's a report of out of scroll spending even though it's the opposite. and the g.o.p. will get together to vote to repeal obama-care for the 37th time. let's go to pat in world world news. >> thank you for having me. >> john: we did work with this president. we did help to bring the deficit down together, our policies are working. have you heard any reaction from "b" this? has this humbled an
deficit hogs. after so many complaints that president obama is leading us down this dark well of never ending debt, a well that george w. push dug, the debt is stranging faster than anybody expected. the shortfall projection is 25% lower than they said it will be a few months ago and it's supposed to keep on dropping. by 2015 the deficit should total 2% over the total gross domestic product. and when president bush held office it was just over 10%. it deflates under democrats. grew under bush,...
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May 12, 2013
05/13
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KQED
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the"the wall street journal" deficit is shrinking, unemployment is at a five-year low. the dow jones cracks the 15,000 mark. the housing market is coming back. all of this despite sequestration. >> i was just want to say to my good friends on the right. cheer up, eventually things will get worse. $231 billion less in deficit than expected last year. that aretax collection up. you have fannie mae, the much beleaguered, chastised, reprimanded institution paying back its loans. >> $59.4 billion. >> freddie mac paying back what it goes. >> $7 billion from freddie mac. >> i read "the wall street journal" too. >> sometimes you surprise me, like three times a show. cheer up to the republicans? it is the democrats who said that a sequester would mean the end of the world. unemployment, we would reduce gdp. it andnt ahead and did it is working. i am very cheery. else can you do on this panel but laugh? the president can take credit for some of the improvement because the economy is improving. the answer is growth. this is how you get rid of the deficit, through grow. >> not thro
the"the wall street journal" deficit is shrinking, unemployment is at a five-year low. the dow jones cracks the 15,000 mark. the housing market is coming back. all of this despite sequestration. >> i was just want to say to my good friends on the right. cheer up, eventually things will get worse. $231 billion less in deficit than expected last year. that aretax collection up. you have fannie mae, the much beleaguered, chastised, reprimanded institution paying back its loans....
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May 14, 2013
05/13
by
FBC
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eye 125
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a growing deficit plus those unfunded pensions. where will the money come from to save this city? they need it fast. a frequent guest on this program. thank you very much for coming back to us. where is the money coming from? they will have to have money within the next few weeks. >> you may be talking to the wrong guy. i am sure plenty of people are in line for a haircut all around. i wanted to talk to about why detroit and other cities are failing. stuart: you have to have an opinion on this. >> my opinion is that detroit defined michigan. stuart: there are only two choices here. they have to have money or they just totally shut down. everything shuts down totally. there is only two choices. >> i think that the governor has to step up. i think that this city has to be committed to a long-term plan. stuart: are you prepared to see money from your city go to detroit? >> no. we cannot afford it. again, i think a lot of folks are in line for a haircut. i think it will have to be shared sacrifice. our cities are failing by design. we have many cities that are headed towards bankruptc
a growing deficit plus those unfunded pensions. where will the money come from to save this city? they need it fast. a frequent guest on this program. thank you very much for coming back to us. where is the money coming from? they will have to have money within the next few weeks. >> you may be talking to the wrong guy. i am sure plenty of people are in line for a haircut all around. i wanted to talk to about why detroit and other cities are failing. stuart: you have to have an opinion on...
SFGTV2: San Francisco Government Television
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May 17, 2013
05/13
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SFGTV2
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the following year of 14-15, is about $256 million deficit. so, we plan for two years, but we'll meet every year just to talk through it. and then we're doing really well on our employment. we have about a 6.3 unemployment rate. so, it's gone down another big percentage point. i want to keep driving that down. my goal is to get to the 5 or even below. that means a lot more people have jobs and create their own destinies. and i need to have that happen because government can't do everything. we'll do the gaps. we'll help, of course, with our seniors, our low-income families, our children need us to provide the programs. but we have to invest really smartly these days. and i think if there's any theme that all of us are working hard on is how to properly invest as our city totally recovers. and many of you will talk to us about the proper thing that we want to invest in that have long-term economic and social benefits for all of us. but i want to thank the supervisors for being here, but most importantly, thank all of you for coming out on this
the following year of 14-15, is about $256 million deficit. so, we plan for two years, but we'll meet every year just to talk through it. and then we're doing really well on our employment. we have about a 6.3 unemployment rate. so, it's gone down another big percentage point. i want to keep driving that down. my goal is to get to the 5 or even below. that means a lot more people have jobs and create their own destinies. and i need to have that happen because government can't do everything....
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May 20, 2013
05/13
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CSPAN
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bottom line deficit the 9%. that is a result of the spending spree that went on the first half of this year including by the government as she said. the government continued to maintain right up until the end that they would wind-up with a deficit of 4.7 n. that sense you can say that they put out a set of numbers and stuck by them. the numbers were wrong. they internally knew that the numbers were wrong. and people like the planning commission very publicly said the numbers were wrong. the govep was sticking to the wrong numbers. the true numbers showed a much larger deficit. so i don't think there has been ny sort of misreporting in the inistry of finances is keeps producing new numbers that are at variance with fact. he's been sticking to an old set of budget projections and trying to maintain that when the true numbers are quite different and they know that. >> thank you. you want to respond to the other comment this is israeli not that chopped up lines? the fact that p.p.p. has been reduced it's basically t
bottom line deficit the 9%. that is a result of the spending spree that went on the first half of this year including by the government as she said. the government continued to maintain right up until the end that they would wind-up with a deficit of 4.7 n. that sense you can say that they put out a set of numbers and stuck by them. the numbers were wrong. they internally knew that the numbers were wrong. and people like the planning commission very publicly said the numbers were wrong. the...